Binance bStocks Surges Past xStocks as Second-Largest Tokenized Stock Issuer

Binance's bStocks has taken the second-largest spot in tokenized stock issuers, surpassing xStocks with a value of over $610 million. This rapid growth occurred less than two months after its June launch.

The market for tokenized equities has seen significant expansion, with Token Terminal reporting that it has grown from around $80 million to approximately $2.7 billion in the past year. Binance's bStocks now trails Ondo Finance by nearly $317 million, which remains the largest issuer in this space.

Binance co-founder Changpeng Zhao attributed the success of bStocks to its existing user base, providing a large pool of crypto traders from launch.